Offset, Right of

1 topic · 2 sources

Banking

Banks' legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as right of setoff.

The Office of the Comptroller of the Currency — Dictionary of Banking Terms and Phrases

Banks' legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as right of setoff

Office of the Comptroller of the Currency, U.S. Department of the Treasury — Dictionary of Banking Terms and Phrases retrieved 2014-05-16